• Reputable national tenant
• Strong lease term of 15 years (since 2019) with rights of renewals
• Net rental income $1,167,328.80pa + GST and outgoings
• 64 self-contained units with 64 car parks
Strategically located in the high demand catchment of Albany, a key business and commercial hub on Auckland's North Shore. The property has close proximity to Westfield Albany, Massey University, North Harbour Stadium and AUT Millennium, ensuring consistent demand from business travellers, students, and sports teams.
This property also enjoys easy access to State Highway 1 and major arterial roads, providing excellent connectivity to Auckland's CBD and beyond. Strong revenue by way of a long-term lease to a national hotel company who have just completed a full refurbishment of all 64 rooms and common areas. The hotel operating as a four-star hotel, featuring modern, self-contained suites suitable for both short and long-term stays. A 15 year secured long term lease (from 2019) with three rights of renewals of five years each, offering built-in fixed rental growth and market rent review every five years, making it an attractive investment for any astute investors!
